Menassat Developments, a pioneering real estate company, has signed a strategic partnership contract with the consortium of Solid Construction (SOLID) and Al Dar for Trading and Contracting (DETAC), to implement the concrete works for the Podia Tower project for LE650 million. The consortium is considered one of the most important and largest contracting companies working in the field of construction of major projects.
For his part, Eng. Ahmed Amin Masoud, Board Chairman of Menassat Developments, said that the contract signed stresses the company’s continuation in its strategy aimed at providing real estate products with the highest standards, while at the same time meeting all needs, and providing owners with unprecedented investment opportunities, through a number of strategic partnerships. These partnerships are concluded with the best leading companies in the field of managing major real estate projects in Egypt and the Arab world.
Masoud explained that the alliance of SOLID and DETAC will implement the concrete structure works for the Podia Tower project, the first energy-saving medical administrative commercial building to be implemented in the Administrative Capital. The investment cost of the project is LE2.5 billion.
Designed according to the latest modern construction systems, which depend on smart building technology that is environmentally friendly, the building is 25 floors in height, he said, adding that the building will be fully implemented by 2025.
Eng Tarek Bahaa, CEO of Menassat Developments, said that the consortium of SOLID and DETAC have combined experience of up to 40 years in the construction sector.
He explained that all project drawings were reviewed within the New Administrative Capital Company, and that a statement of validity was extracted, thus the company becomes the first in the “Downtown Area” to obtain a certificate of validity, and an approval from the Civil Protection Agency on the drawings.
